Loading...
•
Sep 30, 2023
NeueHealth Q3 2023 Earnings Report
Reported solid Q3 2023 performance with revenue increase and positive Adjusted EBITDA.
Key Takeaways
Bright Health Group reported a 39% year-over-year increase in revenue from continuing business, reaching $269.4 million. The company achieved positive Adjusted EBITDA of $1.2 million, marking its second consecutive quarter of profitability on this metric. However, the company reported a net loss of $479.3 million, including a $401.4 million non-cash Goodwill impairment charge.
Revenue from Continuing Business increased by 39% year over year, reaching $269.4 million.
Value-Based Consumers served increased by 208.7% year over year, totaling 355,000.
Net Loss from Continuing Business was $479.3 million, including a $401.4 million non-cash Goodwill impairment charge.
Adjusted EBITDA was positive at $1.2 million.
NeueHealth
NeueHealth
Forward Guidance
Bright Health updated its 2023 financial outlook to reflect revised Revenue forecasts for the Care Solutions segment.
Positive Outlook
- Enterprise Revenue is expected to be between $1.14 billion and $1.19 billion
- Care Solutions Revenue is expected to be between $890 million and $910 million
- Care Delivery Revenue is expected to be between $250 million and $275 million
- Enterprise Adjusted Operating Cost Ratio is expected to be between 17.5% and 18.5%
- Bright Health expects to be Adjusted EBITDA profitable in 2023